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Claims against Directors

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As a director you are under a duty to act in the best interests of the company and its shareholders. However, once you form the view that the company is in financial difficulties or is irredeemably insolvent, your duty is to act in the interest of the company's creditors. Failure to comply with this duty notwithstanding the limited liability status of a Company can expose directors to the risk of personal liability for any losses sustained by the company's creditors following it's insolvency.